Morning Call - Futures Flat at 7:51 EST Same Story Different Day: Careful Long Early
March 31, 2008 4:57 AM
We have Chicago PMI out at 9:45 and that’s about all the news for today. There could be some news about new regulations on the investment banks, but that doesn’t seem to be a market mover, most likely. Today is end of month, end of of quarter, and this could result in moves that do not seem to make sense, chart wise. It is called “window dressing”. This is where the mutual funds load up on certain sectors/stocks so they can show their “clients” that they are making the right moves - when they have to disclose their end of quarter positions. Yes, another Wall St. headfake for the consumer, but that is the game. Pre-open low was 1309.50… Once again, be careful long early….
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